Polkadot (DOT) Trading Is Finally Coming To Coinbase Pro On June 16
Polkadot, one of the most anticipated blockchain ecosystems in the cryptocurrency space, will have its native DOT asset listed on Coinbase Pro. It is a significant development, as many enthusiasts and traders have waited for this news. Trading will commence on Wednesday the 16th, assuming the liquidity conditions can be met.
The Success Of Polkadot
Even though the Polkadot ecosystem is still in development, the concept has raised a lot of attention and awareness. The objective of this blockchain is to take interoperability to the next level. There will be many opportunities to explore for developers with support for cross-chain transfers of data and assets among Polkadot network blockchains. Moreover, the project specializes in economic scalability by letting validators secure multiple blockchains.
Speaking of which, the Polkadot ecosystem will consist of many parachains. Every parachain is a parallel blockchain to the main network but designed for specific projects and services. It removes the risk of blockchain bloat from the equation by offloading subsets of data and transactions to their respective parachains. Furthermore, all parallel chains will benefit from the shared security by the leading Polkadot network.
With such technical prowess to look forward to, it’s not difficult to see why many people try to invest in the native DOT token. It is not just a speculative asset, as holders will use DOT for protocol governance, staking, and bonding. That latter aspect is crucial for projects pursuing a parachain slot on the network, as their supporters and community members can bond DOT to fulfill the financial requirements. To achieve broader access to DOT, it will require a listing on prominent exchanges. The listing on Coinbase Pro can help move things in the right direction.
Coinbase Pro Lists DOT After All
Even though Coinbase Pro is often quick to list popular crypto assets, the team has taken its time with Polkadot (DOT). A bit surprising, given how the company has listed support for some more obscure tokens – Enzyme Token, Teller, and others – well before Polkadot. Listing currencies that are well below Polkadot’s $25 billion market cap ahead of DOT will always remain a rather questionable decision by Coinbase Pro, but that is water under the bridge now.
As is the courtesy with listings on this exchange, deposits have been enabled ahead of trading. The DOT market will open on Wednesday, June 16, at 9 AM PT if the liquidity conditions are met. Given Polakdot’s daily trading volume of over $2 billion, meeting those conditions will not be too big of a challenge. Trading pairs will include DOT/USD, DOT/BTC, DOT/EUR, DOT/GBP, and DOT/USDT.
It is crucial to note this listing does not guarantee DOT will make its way to Coinbase or the mobile application for consumers. Coinbase Pro is the only listing for now, but it never guarantees further listings on the app or regular Coinbase platform. Should that situation change, the company will make separate announcements through its official media channels.